BREAKING: SBI Holdings Shuts Down Rumors of Bitcoin-XRP ETF Filing in Japan

Japan's financial giant SBI Holdings just dropped a cold bucket of reality on crypto hopefuls—denying reports it submitted a Bitcoin-XRP ETF application to regulators.

No shortcuts to moon-landing: While the US and Europe race ahead with crypto ETFs, Japan's Financial Services Agency (FSA) maintains its signature cautious stance. SBI's clarification dashes hopes for quick institutional adoption through traditional finance pipelines.

XRP army left hanging: The denial comes as a blow to Ripple loyalists banking on ETF approval to legitimize the embattled token. Meanwhile, Bitcoin maximalists shrug—they've seen this regulatory tango before.

Wall Street to Crypto Street: "Come back when you've got 10 years of audited financials," whispers every legacy finance exec while quietly accumulating BTC OTC. The more things change...

TLDR

• SBI Holdings has denied recent media reports that claimed it filed for a Bitcoin-XRP dual ETF in Japan.
• The company stated that the ETF plans remain in the preparation stage and no applications have been submitted yet.
• Media reports had cited the company’s earnings release but it did not confirm any ETF filing.
• A representative said applications will only be filed after regulatory updates are implemented in Japan.
• Japan’s Financial Services Agency has proposed classifying certain crypto assets as financial products.

SBI Holdings has denied recent reports claiming it filed for a Bitcoin-XRP dual exchange-traded fund in Japan. Media outlets earlier suggested the company had submitted two ETF applications, including one for gold and crypto assets. However, the company clarified it remains in the planning stage and has not filed with regulators.

A company representative stated, “Contrary to some media reports, we have not filed any applications with the authority to form an ETF.” The earlier reports referred to SBI Holdings’ earnings release, yet no explicit filing confirmation appeared in the document. Therefore, the company stressed that any ETF MOVE will happen only after regulatory updates.

Japan’s Financial Services Agency recently proposed new rules to classify certain crypto assets as financial products under the Financial Instruments and Exchange Act. SBI Holdings noted this change could influence future filings for crypto-related ETFs. The company said it will submit applications only after these legal revisions take effect.

SBI Holdings Aligns ETF Plans with Laws

SBI Holdings confirmed that its asset management subsidiary will handle future ETF applications. The firm emphasized that no formal submission has been made for any Bitcoin-related ETF. Instead, it is monitoring regulatory progress before making any move.

The representative explained, “In Japan, ETFs that incorporate crypto assets are expected to be approved in line with financial and tax authority responses.” This means the approval path depends on the pace of legislative updates. Consequently, no fixed timeline exists for submitting a Bitcoin ETF application.

Although the United States approved its first bitcoin ETF nearly 18 months ago, Japan has not yet followed. SBI Holdings acknowledged that its approach is tied to legal readiness rather than market demand. The company intends to align with Japan’s evolving crypto asset regulations before proceeding.

XRP ETF Plans Target Individual Investors

SBI Holdings also addressed speculation about launching an XRP-focused ETF alongside Bitcoin. The company confirmed that any such ETF WOULD target individual investors at the initial stage. It said this supports its vision of “democratizing alternative investments.”

The firm believes retail participation could expand interest in crypto ETFs once regulatory clarity emerges. SBI Holdings stated it will prepare filings that meet both domestic financial rules and investor protection standards. It remains committed to ensuring compliance with the Financial Instruments and Exchange Act.

While XRP has a strong presence in Japan’s crypto market, no official ETF product exists yet. SBI Holdings confirmed that it will continue evaluating market conditions and regulatory decisions before submitting any XRP ETF application.